Finance news

• Australia shares to drop on energy, mining woes

  13-12-2015 22:48 via news.yahoo.com
  
  Australian stocks are likely to extend losses on Monday, tracking a decline on Wall Street following another slide in oil prices. Energy and natural resources stocks are likely to come under pressure, ...
  
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• Powers back unity government in Libya to deter Islamic State

  13-12-2015 18:59 via news.yahoo.com
  
  By Lesley Wroughton and Steve Scherer ROME (Reuters) - Global powers on Sunday backed the formation of a national unity government in Libya, pledging economic and security support to help stabilize the chaotic North African country where Islamic State militants have a foothold. U.S. Secretary of State John Kerry and Italian counterpart Paolo Gentiloni, joined by U.N. envoy Martin Kobler, were optimistic that the majority of the representatives of Libya's two rival governments would sign a unity
  
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• Western powers call for Libya ceasefire, back unity government

  13-12-2015 17:15 via news.yahoo.com
  
  Western powers called for a ceasefire in Libya on Sunday to pave the way for an agreement to form a national unity government, which U.S. Secretary of State John Kerry said the majority of factions were ready to sign. Most representatives of the two rival governments currently in power in Libya "have come together and are ready to sign an agreement, and they refuse to be blocked by one or two people or individual politics," Kerry told reporters. Seventeen countries met in Rome to give a final pu
  
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• Egypt seeks to drum up Gulf investments

  13-12-2015 15:24 via news.yahoo.com
  
  Egyptian Prime Minister Sherif Ismail will meet Saudi officials and investors this week in a bid to drum up more investment as Egypt seeks to revive an economy suffering from a foreign currency shortage. The talks follow a visit by Ismail and several ministers to Saudi Arabia earlier this month to present potential projects and push forward pledges made at an international investment conference in Sharm al-Sheikh in March. Egypt attracted $12 billion in pledges from Gulf countries at the confere
  
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• Wall Street veterans say rate-hike past is not prologue for markets

  13-12-2015 14:03 via news.yahoo.com
  
  By Trevor Hunnicutt NEW YORK (Reuters) - It has only been six years since the U.S. stock market rout brought on by the financial crisis, but as far as Deena Katz's clients are concerned, that might as well be ancient history. "People have a thirty-second memory," said Katz, 65, co-chairman at Evensky & Katz/Foldes Financial Wealth Management. "We're used to an instant turnaround." That is particularly true when compared to investors who lived through longer periods of economic disaster, like
  
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• South Africa bourse CEO says concerned about financial stability

  13-12-2015 12:56 via news.yahoo.com
  
  The head of South Africa's bourse said on Sunday he was concerned about long-term financial stability after last week's selling frenzy, triggered by the unexpected sacking of the finance minister, wiped nearly $11 billion off share values. "We should not just be concerned about the immediacy of market reaction but should be mindful of the longer term impact on the financial stability of our economy," the JSE Ltd Chief Executive Nicky Newton-King said. President Jacob Zuma sacked Nhlanhla Nene la
  
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• For China, climate deal is imperfect but huge step forward

  13-12-2015 12:09 via news.yahoo.com
  
  By David Stanway PARIS (Reuters) - For China, the world's biggest greenhouse gas emitter, the global climate accord reached in Paris marked a huge step toward greener growth that safeguards its sovereignty while falling short on funding for cleaner energy. Xie Zhenhua, Beijing's senior climate change envoy, said he welcomed what he described as a flawed agreement, echoing a similar summation from U.S. President Barack Obama. On Saturday, the global climate summit in Paris produced a landmark acc
  
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• MIDEAST STOCKS-Egypt slumps in regional sell-off; c.bank meeting eyed

  13-12-2015 12:07 via news.yahoo.com
  
  Cairo stock market tumbled on Sunday, in line declines on other regional bourses as Egypt traders awaited the outcome of a central bank interest rate and currency policy meeting later this week. Egypt's annual urban consumer inflation rose to 11.1 percent in November from 9.7 percent in October, the official statistics agency CAPMAS said on Thursday. This is the steepest increase in headline inflation since June.
  
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• Spain's new parties gain ground ahead of election

  13-12-2015 11:39 via news.yahoo.com
  
  Spain's new political forces Podemos and Ciudadanos have gained ground ahead of a general election on Dec. 20, a poll showed on Sunday, sapping support for mainstream parties and reinforcing expectations that no one party will manage to win a majority, The governing center-right People's Party (PP) is widely expected to win the election, though with far less backing than it garnered four years ago as the vote becomes a four-way race. Over recent decades two parties - the PP and the opposition So
  
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• Veteran lawmaker Sylvester Turner wins Houston mayoral runoff

  13-12-2015 06:54 via news.yahoo.com
  
  Veteran lawmaker Sylvester Turner edged out Republican businessman Bill King on Saturday to claim victory as the new mayor of Houston, the fourth most-populous U.S. city. Turner, who sought to expand economic opportunities, faced King, who had pledged to fix city finances, in a runoff after a November election failed to produce a winner. With more than 210,000 votes cast, Turner claimed victory with 51 percent to 49 percent for King, who conceded defeat.
  
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• Houston lawyer takes small lead in mayor's race

  13-12-2015 05:10 via news.yahoo.com
  
  King was ahead of Turner by less than one percent with 83 percent of precincts reporting. King, who pledged to fix city finances, faced Turner, who sought to expand economic opportunities, in the runoff Saturday after a November election failed to produce a winner. The race was a dead heat throughout the campaign between Turner, a powerful Democrat in the Republican-dominated state legislature, and King, a Republican lawyer and businessman who calls himself "unapologetically moderate".
  
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• Puerto Rico governor's campaign announcement likely to come Monday

  13-12-2015 02:48 via news.yahoo.com
  
  By Nick Brown SAN JUAN (Reuters) - Puerto Rico's governor will address the island on Monday, his press secretary tweeted on Saturday, and local media reported that he will not seek reelection as the island battles economic crisis and $72 billion in debt. Governor Alejandro Garcia Padilla "will offer a message to the country" on Monday afternoon, Public Affairs Secretary Jesus Manuel Ortiz tweeted in Spanish. The governor had been scheduled to reveal by the end of this week whether he would seek
  
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• UPDATE 1-Puerto Rico governor's campaign announcement likely to come Monday

  13-12-2015 02:45
  
  SAN JUAN, Dec 12 (Reuters) - Puerto Rico's governor will
  address the island on Monday, his press secretary tweeted on
  Saturday, and local media reported that he will not seek
  reelection as the island...
  
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• IEX wants buyside in its corner for 'David vs Goliath fight'

  13-12-2015 01:00
  
  Start-up trading venue wants asset managers to write to the SEC and back its move to become a fully-fledged exchange, having drawn fire from rivals
  
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